Baring & Willing v. Moore
New York Court of Chancery
The bill in this case was filed to procure a foreclosure or satisfaction of a mortgage given to the complainants by A. A. Moore, upon lots No. 12 and 13, in the Binghampton patent, to secure the purchase money on those lots. After the giving of the mortgage, Moore sold lot No. 12 to the defendant, Whitney, for a sum which was something less than the amount due to the complainants on their mortgage on both lots.
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The bill in this case was filed to procure a foreclosure or satisfaction of a mortgage given to the complainants by A. A. Moore, upon lots No. 12 and 13, in the Binghampton patent, to secure the purchase money on those lots. After the giving of the mortgage, Moore sold lot No. 12 to the defendant, Whitney, for a sum which was something less than the amount due to the complainants on their mortgage on both lots. To secure the purchase money agreed to be paid by Whitney for lot No. 12, he gave to Moore a bond and a mortgage on that lot, conditioned to pay such purchase money to the…
1Opinion of the Court
The Chancellor.
As the payment of the judgment due to Knower was provided for in the order which was made upon the argument of this motion, it is only necessary to refer to his rights so far as to say I am satisfied that the assignment to him of Whitney’s bond and mortgage, although absolute, was only intended as a security for the payment of that judgment; by having the amount of the Whitney debt applied towards the satisfaction of the mortgage to the complainants, so as to give Knower the benefit of the lien of his judgment on lot No. 13, discharged of the complainants’ mortgage to that…
2Cited by4 opinions
- Birke v. AbbottIndiana Supreme Court · 1885
- Jager v. VollingerMassachusetts Supreme Judicial Court · 1899
- Leerburger v. Hennessey Realty Co.Appellate Division of the Supreme Court of the State of New York · 1912
- Ingalls & Stockman v. MorganNew York Supreme Court · 1851